Final Answer:
But nearly all supply curves share a basic similarity: they slope up from left to right. Supply curves typically slope up from left to right. This is because as the price of a good or service increases, producers are generally willing to supply more of it to the market. Therefore, the correct answer is B. up from left to right.
Step-by-step explanation:
Supply curves illustrate the relationship between the price of a good and the quantity that producers are willing to supply. Generally, as the price increases, suppliers find it more profitable to produce and sell more units, resulting in an upward-sloping curve. This behavior is rooted in the law of supply, which states that all else being equal, an increase in price leads to an increase in quantity supplied.
To further explain, consider the logic behind this relationship. When prices rise, producers can potentially earn higher profits per unit. This creates an incentive for them to increase production and supply more to the market. On the other hand, when prices fall, the incentive to produce more diminishes as the potential profit per unit decreases. Hence, the supply curve slopes upward, indicating the positive correlation between price and quantity supplied.
Mathematically, this relationship can be expressed as Qs = a + bP, where Qs is quantity supplied, P is the price, and a and b are constants. The positive coefficient of P (b) signifies the direct relationship between price and quantity supplied. This model aligns with the general behavior of supply curves, reinforcing the understanding that they slope up from left to right. Therefore, the correct answer is B. up from left to right.